Modo is a derivative of Lightwave, while the question is legitimate the answer would be to go with Modo over Lightwave. There's many reason for this considering customer support and popularity.
AO in the 2nd UV channel? Are you talking about lightmapping? Xoliul's shader supports lightmaps in the 2nd UV channel.... http://www.laurenscorijn.com/viewportshader
try putting your lightmap on the colorgain input of your color texture instead of using on the diffuse or ambient. This will really multiply your lightmap into your colorgain.
I have blocked out this vampire scene in Zbrush, then rendered in Lightwave. I like how a character can be quickly blocked out in Zbrush :D I'm still figuring out hard surfaces between Zbrush and Lightwave.
Helloo, my lightmap UV's are stitched at the edges, Here are the lightmaps for the Pillar (only 1 island) Dont mind the topo :) was playing with it for vertex painting lol and for the Edge Decals, only corners pieces